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Charter Hall Group (Charter Hall or the Group) is pleased to announce that its Direct PFA fund has divested its leasehold interest in UNSW Kensington for a total consideration of $80 million.
Located at 221-227 Anzac Parade in Kensington, the asset is a purpose-built and administration facility leased by the University of New South Wales, with nine years remaining on the existing lease.
Charter Hall Direct CEO, Steven Bennett, said, “This divestment is in line with our portfolio curation strategy, and demonstrates our commitment to transacting with financial discipline and acting in the best interest of our investors.”
In line with its product disclosure statement, PFA offers investors liquidity windows every five years. PFA accepted all redemption requests received in response to its most recent liquidity event and will meet those requests in full in an orderly and progressive manner.
The transaction was brokered off-market by Peter Court and Mike Walsh at Cushman & Wakefield.